Alberta plans loans to speed well reclamation

Alberta plans loans to speed well reclamation

Alberta plans loans to speed well reclamation

Western Producer

June 1, 2017

Legislation designed to speed up the management of orphaned wells and could create up to 1,650 jobs.

A loan to Alberta’s Orphan Well Association is being proposed by the Alberta government to assist in reclaiming about 152,000 abandoned or inactive oil and gas sites.

The government proposes to borrow $235 million for the loan and provide it to the OWA at a more favourable interest rate than it could access on its own. Read more…